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Crypto market oulook 2023

Q1 2023 crypto market sector snapshot

This is our Q1 2023 crypto market sector snapshot, a report from our Sygnum investment research. 

The crypto sector experienced significant growth in the first quarter of 2023, with Layer 2 platforms seeing a doubling of daily transactions, surpassing transaction volumes for Ethereum. Filecoin also achieved a new high in total active data storage deals. Lens Web3 social protocol also saw record-high daily active users and daily posts. The best performing sectors were Layer 2 and Layer 1, with innovative product launches and the safe haven status of Bitcoin driving their performance. In contrast, the CeFi sector underperformed due to regulatory challenges. Token winners in the first quarter included Lido, Bitcoin and Stacks, with significant gains driven by regulatory pressure, economic instability and interest in Bitcoin NFTs and smart contracts.

This 34-page report is available to professional and private qualified Swiss investors. Please find further insights and news from our team here.

Disclaimer

This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.

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